StockNews.com Begins Coverage on ClearSign Technologies (NASDAQ:CLIR)

StockNews.com assumed coverage on shares of ClearSign Technologies (NASDAQ:CLIR) in a research note released on Saturday. The firm issued a sell rating on the technology company’s stock.

ClearSign Technologies Stock Performance

Shares of ClearSign Technologies stock opened at $0.80 on Friday. The stock has a market capitalization of $40.16 million, a P/E ratio of -7.27 and a beta of 1.13. ClearSign Technologies has a 52-week low of $0.62 and a 52-week high of $1.72. The stock’s 50-day simple moving average is $1.16 and its 200 day simple moving average is $0.98.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of CLIR. Geode Capital Management LLC boosted its holdings in shares of ClearSign Technologies by 35.5% in the third quarter. Geode Capital Management LLC now owns 521,229 shares of the technology company’s stock worth $443,000 after acquiring an additional 136,639 shares during the period. Renaissance Technologies LLC purchased a new stake in ClearSign Technologies during the 4th quarter worth about $84,000. Raymond James Financial Inc. bought a new position in ClearSign Technologies in the 4th quarter worth about $75,000. Citadel Advisors LLC purchased a new position in ClearSign Technologies during the 4th quarter valued at about $49,000. Finally, Americana Partners LLC purchased a new position in ClearSign Technologies during the 3rd quarter valued at about $25,000. 24.03% of the stock is currently owned by hedge funds and other institutional investors.

About ClearSign Technologies

ClearSign Technologies Corporation designs and develops products and technologies to enhance emission and operational performance, energy efficiency, emission reduction, safety, and overall cost-effectiveness of industrial and commercial systems in the United States, the People's Republic of China, and Hong Kong.